Kentucky Economic Development plans $140 million sale of revenue bonds for Baptist Health

By Sheri Kasprzak

New York, Nov. 23 - The Kentucky Economic Development Authority is set to price $140 million of series 2011 hospital revenue bonds for the Baptist Health Care System Obligated Group, according to a preliminary official statement.

The bonds (A1//AA-) will be sold on a negotiated basis with Goldman Sachs & Co. as the lead manager. The co-managers are BB&T Capital Markets LLC; J.J.B. Hilliard, W.L. Lyons LLC; and J.P. Morgan Securities LLC.

The maturity dates have not been determined.

Proceeds will be used to reimburse the obligated group for costs associated with the construction, equipment and expansion of a medical building extension to the existing Central Baptist Hospital in Lexington, Ky.; the construction, acquisition and expansion of new fixtures, equipment, computer software and hardware and other improvements at the Western Baptist Hospital in Paducah, Ky.; and the acquisition, construction and expansion of new fixtures, equipment, computer software and hardware and other improvements at Baptist Hospital East in St. Matthews, Ky.

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